What is the Phuket condo Bubble Index?

RealData's Bubble Index measures each condo building's median sale price per sqm relative to its sub-area (tambon) median. 100 = at market. 200 = priced double the local average. In Phuket, buildings catering to foreign vacation-rental buyers — particularly in Patong, Kata, and Kamala — often score 150–350, reflecting the beach-proximity premium.

Who buys overpriced condos in Phuket?

Phuket's premium condo market is driven by Russian buyers (particularly post-2022), Chinese investors, Western retirees seeking vacation homes, and Bangkok investors targeting vacation-rental income. Marketing materials emphasize 'guaranteed yield' and 'beachfront premium' without publishing specific numbers — this analysis supplies those numbers.

How do you measure if a Phuket condo is overpriced?

RealData crawls all hipflat.co.th listings for each Phuket condo building, computes the median price per square meter, then divides by the sub-area (tambon) median. Buildings with fewer than 5 sampled properties per sub-area are excluded. Sale prices are preferred; rent data is used as fallback when no sale listings exist.

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Phuket Bubble Watch — Top 10 Overpriced Condos

2026-05-09 · RealData analysis

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Phuket's condo market is shaped by foreign demand: Russian buyers post-2022, Chinese capital, Western retirees, and Bangkok investors looking for vacation-rental yield. Marketing decks lean heavily on 'beachfront premium' and 'guaranteed yield' — without putting a number on either.

We crawled all 63 Phuket condo buildings on hipflat, computed each building's median price-per-sqm, then divided by its sub-area (tambon) median to produce a Bubble Index. 100 = at-market. 200 = double the local average. 400 = four times.

Below: the 10 highest-Bubble-Index buildings in Phuket. These aren't necessarily bad buildings — luxury brands, beach proximity, or amenities can justify a real premium. The point is: before you pay the 'investment' pitch, know the number.

#	Condo	Sub-area	Bubble
1	Malaiwana Residences	thalang	+-12%

Methodology

Data source: hipflat.co.th L3 listings (price + area per unit)
Price unit: USD per m²
Sub-area median normalised to 100
SALE price preferred; RENT fallback when no sale data
Measurement date: 2026-05-09
Sub-areas with fewer than 5 sampled buildings excluded (small-sample noise)

Data refreshes weekly. Click any building → per-unit prices, 13-month price trend, nearby projects in one page.

→ All 63 Phuket condos

Condo

Sub-area

Bubble

Malaiwana Residences

thalang

+-12%

Methodology

Data source: hipflat.co.th L3 listings (price + area per unit)

Price unit: USD per m²

Sub-area median normalised to 100

SALE price preferred; RENT fallback when no sale data

Measurement date: 2026-05-09

Sub-areas with fewer than 5 sampled buildings excluded (small-sample noise)

Data refreshes weekly. Click any building → per-unit prices, 13-month price trend, nearby projects in one page.

→ All 63 Phuket condos